The Latin word schedŭla is the diminutive of scheda, which can be translated as "paper sheet" . The notion came to our language as identification card : a paper that has some written information.
The most common use of the concept refers to a official document which is used to notify or prove something. One of the best known certificates is the identity card , which can acquire different denominations according to the country (citizenship card , identification document and others).
The identity card is issued by the State . Each citizen has their own identity card, which includes personal data that allows their identification: full name, date and place of birth, etc. The identity card is used by people to carry out various procedures; State authorities, for their part, can exercise control tasks through these documents.
In Argentina , the National Directorate of National Registries of Automotive Property and Loans (DNRPA ) is an official body that issues the Vehicle Identification Card , also called Green Card . This credential is given to the owner of a car, van, truck, motorcycle or special machinery with their personal data and the information vehicle.
The DNRPA also issues the Identification Card for Authorized Driver , known as Blue Card . In this case, the document constitutes an authorization that the owner of a vehicle grants to another person to drive your car or motorcycle.
The mortgage bonds on the other hand they are Titles issued by a financial institution, using the mortgage loans granted as collateral. These certificates pay a fixed interest.
The mortgage certificate offers the client a return in exchange for the amount he has invested in this kind of values . The financial institution that issues it relies on its mortgage loan portfolio to provide the guarantee that characterizes it; In other words, all the loans the institution has are used to guarantee the bonds issued.
This is directly linked to one of the limitations of this title: it can only be issued by official credit institutions, mortgage credit societies and savings banks. With respect to its term, it is possible to say that it is between one and three years, according to different factors.
According to the type of warranty , a classification emerges in which we find two kinds of mortgage ID:
* mortgage certificate with special guarantee : its issuance takes place with the guarantee of one or more mortgage loans in particular, which must be well defined;
* mortgage certificate with global guarantee : in this case, it is the set of all the loans of the entity that gives the clients the guarantee at the time of the issuance of the title. It is worth mentioning that there is an exception, and it is given with loans that act as back of mortgage bonds of the previous type.
It is correct to say that the mortgage certificate is a very suitable instrument for the financing of activities related to construction, for example; However, in order for it to be implemented effectively it is necessary that certain requirements be met, such as the following:
* an adequate macroeconomic environment without change abrupt or exchange or monetary instability, unemployment peaks, and so on;
* a rigid and efficient system of registration, information and cadastre, in addition to a transparent process of appraisal and agility in the execution of mortgages in case of failures by the debtor;
* adequate mechanisms to give liquidity, that is a sale at low cost in the shortest possible time;
* The debtor must have confidence in the scheme, as well as the pension entities and the issuers must be familiar with the stock market operations.